The need for a battery gold rush in US

Tesla Gigafactory in Nevada. Stock Image.

President Joe Biden’s plan to build out electric-vehicle infrastructure has triggered a fresh rally in the sector, with US automakers making bold commitments to electrify their fleets.

Problem is, electric cars run on lithium-ion batteries, and the US is in short supply.

While China dominates the battery manufacturing supply chain, and Europe is working to catch up, the US still lags far behind.

CNBC producer Katie Brigham interviewed analysts and executives to explain what needs to happen in order to avoid a bottleneck in EV production in the United States: